Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Christopher Peetz Sells 30,000 Shares of Stock

Key Points

• CEO Christopher Peetz sold 30,000 Mirum Pharmaceuticals shares at an average price of $98.68, generating approximately $2.96 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 194,440 shares.
• Mirum reported quarterly revenue of $176.24 million, up 37.9% year over year and above estimates, but its adjusted loss of $1.06 per share missed expectations. Analysts project a current-year loss of $1.31 per share.
• MIRM recently traded around $100.63, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $137.31.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) CEO Christopher Peetz sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total value of $2,960,400.00. Following the completion of the transaction, the chief executive officer owned 194,440 shares of the company's stock, valued at approximately $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Monday, August 10th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00.
• On Monday, July 6th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $122.27, for a total value of $2,445,400.00.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM traded up $0.80 during midday trading on Thursday, hitting $100.63. The company's stock had a trading volume of 453,033 shares, compared to its average volume of 857,573. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. The firm has a market cap of $6.53 billion, a P/E ratio of -6.92 and a beta of 0.49. The firm's 50 day moving average is $109.88 and its 200-day moving average is $101.75.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The business had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The business's revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MIRM shares. Citigroup reaffirmed a "market outperform" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. TD Cowen dropped their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. UBS Group set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Finally, Weiss Ratings raised shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.31.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MIRM. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $32,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth $32,000. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth $33,000. Finally, Comerica Bank raised its holdings in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares during the period.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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